San Diego, CA – December 14, 2021 – Finance of America Reverse (FAR), a leading retirement solutions company, today announced that Scott Norman, vice president of field retail and director of government relations, has been re-elected as co-chair of the National Reverse Mortgage Lenders Association (NRMLA) 2021-2022 Board of Directors. Norman was unanimously re-elected to the position by the Board of Directors and this will be his third consecutive term serving as co-chair since 2018. He first joined the NRMLA Board of Directors in 2012 after holding other reverse mortgage and mortgage banking industry roles in Texas.
“We are extremely proud of Scott’s advocacy for the reverse mortgage industry and his tireless efforts to help raise awareness about the benefits home equity products can bring to retirees,” said Kristen Sieffert, president of FAR. “Scott’s work is crucial in opening hearts and minds to our products and services. His guidance and support as co-chair are invaluable to us as an industry. I look forward to continuing to work with Scott and NRMLA as we seek to help even more individuals incorporate home equity into their planning process, so they can live their best lives in retirement.”
As NRMLA’s co-chair, Norman will continue to support the organization’s strategic initiatives, provide guidance and support for priority objectives, and find more ways to educate policymakers, financial advisors and the public at large about the benefits of tapping into home equity. “I’ve spent my career educating people about the ways we can help consumers do more with their home equity,” said Norman. “Recent years have shown that we are poised to expand the market and grow this industry even further, while also innovating and introducing new, proprietary products. Seeing the developments within the industry and the increasing acceptance of leveraging home equity, I think we are just getting started at growing as an industry. It’s a very exciting time to be able to support the industry as co-chair.”
Norman’s career in the reverse mortgage industry spans nearly three decades. Notably, he led the original campaign to amend the Texas Constitution to authorize reverse mortgages in the state in 1999, when he founded the Texas Association of Reverse Mortgage Lenders. He later led three additional successful efforts to expand reverse mortgages in Texas through the constitutional amendment process. A former originator, Scott closed the very first reverse mortgage loan in Texas in 2000. His success was acknowledged in 2017 with the Larry E. Temple award for his exceptional leadership to the mortgage banking industry in Texas – the highest honor the Texas Mortgage Bankers Association can bestow to one of its members.
Steve Irwin, president of NRMLA, added: “Scott Norman is an outstanding advocate for the reverse mortgage industry. His personal efforts show the immense progress we can make and the lives we can help as an industry. His vision for the future of the business will help NRMLA continue to grow and further ensure reverse mortgages and leveraging home equity are incorporated in more retirement strategies. We are excited to continue working with Scott and FAR as we start a brand new year.”